Three New States Legalize Cannabis, the Resignation of Jeff Sessions and the Change in Control of the House of Representatives Set the Foundation for a Wave of Pro-Cannabis Legislation and a Path to the End of Prohibition
DENVER, CO / ACCESSWIRE / November 8, 2018 / AmeriCann, Inc. (OTCQB: ACAN), an agricultural-technology company that is developing the next generation of eco-friendly state-of-the-art greenhouse cannabis cultivation and processing properties, today provided commentary on the impact of the recent developments in Washington, D.C. and the outlook for the cannabis industry.
Three significant pro-cannabis events occurred in the last several days:
- Voters in Michigan, Missouri and Utah approved cannabis measures on Tuesday. There are now 32 states that have approved cannabis, nearly two-thirds of the country.
- U.S. Attorney General Jeff Sessions, an outspoken critic of the cannabis industry, has resigned a day after the Midterm elections.
- Congressman Pete Sessions was defeated in his re-election bid for Texas' 32nd Congressional District. Pete Sessions had used his position as Chairman of the House Rules Committee to block House floor members from voting on over three-dozen marijuana-related amendments during his leadership tenure.
''Tuesday's election results represent one of the most significant events yet towards the end of cannabis prohibition,'' stated AmeriCann CEO Tim Keogh. ''Not only were ballot measures passed legalizing cannabis in three states, but the change in the Chairmanship of the powerful House Rules Committee should serve as a catalyst for a wave of pro-cannabis legislation.''
Democrat Representative Jim McGovern of Massachusetts is in line to replace Pete Sessions as Chair of the Committee. Representative McGovern is recognized as a leading advocate for pro-cannabis policies, even serving as a co-sponsor of cannabis supportive legislation.
''It is well known that Jeff Sessions has been an obstacle towards cannabis reform,'' stated AmeriCann founder Ben Barton. ''However, Jeff Sessions had very limited success in implementing his outdated views of cannabis enforcement. On the other hand, Pete Sessions was incredibly effective in blocking dozens of popular, bipartisan cannabis reforms from reaching the floor of the House. With the abrupt exit of both Sessions, we now have the opportunity for Congress to implement the will of the people and to implement reforms to end cannabis prohibition.''
A recent Gallup poll found that 66% of Americans favor marijuana legalization.
With voters in Michigan, Missouri and Utah approving cannabis measures on Tuesday, there are now 32 states that have approved cannabis, nearly two-thirds of the country. Industry experts estimate the new states represent $2 billion in projected industry revenue.
About Massachusetts Medical Cannabis Center
Massachusetts Medical Cannabis Center (MMCC), is a one million square foot sustainable greenhouse facility in Freetown, Mass which is being developed by AmeriCann. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the spring of 2019. Once fully developed, the MMCC design calls for a research facility, a training center, corporate offices, a quality-assurance laboratory, and a facility for manufacturing cannabis-infused food, nutraceuticals and consumer packaged cannabis goods. AmeriCann intends to open similar facilities in states in which cannabis is legal for medical and adult use.
About AmeriCann
AmeriCann (OTCQB: ACAN) is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties.
AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability.
More information about the Company is available at: www.americann.co, or follow AmeriCann on Twitter @ACANinfo,
Forward-Looking Statements
This press release contains ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the ''Exchange Act'') (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words ''believe,'' ''anticipate,'' ''estimate,'' ''expect,'' ''intend,'' ''plan,'' ''project,'' ''prospects,'' ''outlook,'' and similar words or expressions, or future or conditional verbs such as ''will,'' ''should,'' ''would,'' ''may,'' and ''could'' are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional uncertainties that could impact the Company's forward-looking statements, please see the Company's Registration Statement on Form S-1, which the Company recently filed with the SEC and which may be viewed at www.sec.gov.
Contact Information:
Corporate:
AmeriCann, Inc.
1550 Wewatta Street
2nd Floor
Denver, CO 80202
(303) 862-9000
info@americann.co
www.americann.co
@ACANinfo on Twitter
Media:
Teak Media + Communication
Stacy Wilbur
stacy@teakmedia.com
617-269-7171
Investors:
Hayden IR
hart@haydenir.com
(917) 658-7878
SOURCE: AmeriCann, Inc.
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